Business, international

A game-theoretic model for mergers and acquisitions

Article Abstract:

A parsimonious descriptive model is developed to represent the corporate merger process as a bargaining game under certainty. The model uses four parameters to estimate coefficients of incremental wealth valuation of acquiring and target companies. Distribution of gains between target and acquiring companies are explained such that they are consistent with the Nash-Kalai axioms. Empirical data from 24 recent corporate mergers is used to test its predictive power using an operational version of the game-theoretic model.

Multicriteria decision analysis: some thoughts based on the tutorial and discussion sessions of the ESIGMA meetings

Article Abstract:

Activities of the EURO Special Interest Group on Multicriteria Analysis (ESIGMA) are investigated to gain more insights on the field of multicriteria decision analysis. Emphasis is on the most important and original contributions made by scientists participating in annual ESIGMA meetings, with reflections made on the conclusions of the discussions held during the group's 10 years of existence.